Standard BioTools (NASDAQ:LAB) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Standard BioTools has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, reflecting a potential stabilization in the company's stock outlook.
• TD Cowen also downgraded Standard BioTools, reducing its rating from "buy" to "hold" while setting a target price of $1.55.
• Insider trading activity indicates confidence, with a director purchasing 150,000 shares at an average cost of $1.22, bringing insider ownership to 23.16% of the company's stock.

Standard BioTools (NASDAQ:LAB - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also recently issued reports about the stock. TD Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating and set a $1.55 target price for the company. in a research note on Wednesday. Cowen cut shares of Standard BioTools from a "buy" rating to a "hold" rating in a research note on Wednesday.

Standard BioTools Stock Up 0.8%

Shares of Standard BioTools stock opened at $1.23 on Friday. The firm's 50 day moving average price is $1.26 and its 200-day moving average price is $1.20. Standard BioTools has a 52-week low of $0.92 and a 52-week high of $2.32. The company has a market cap of $467.18 million, a P/E ratio of -3.84 and a beta of 1.32.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L bought 150,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average cost of $1.22 per share, for a total transaction of $183,000.00. Following the purchase, the director directly owned 59,750,000 shares of the company's stock, valued at approximately $72,895,000. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 358,220 shares of company stock valued at $442,446 and have sold 58,089 shares valued at $57,451. 23.16% of the stock is owned by company insiders.

Institutional Trading of Standard BioTools

Several institutional investors and hedge funds have recently bought and sold shares of LAB. Long Focus Capital Management LLC acquired a new stake in Standard BioTools during the 1st quarter valued at approximately $7,236,000. Mirabella Financial Services LLP acquired a new stake in Standard BioTools during the 4th quarter valued at approximately $5,478,000. Pacific Capital Partners Ltd acquired a new stake in Standard BioTools during the 1st quarter valued at approximately $1,701,000. Kent Lake PR LLC acquired a new stake in Standard BioTools during the 2nd quarter valued at approximately $1,200,000. Finally, Nuveen LLC acquired a new position in shares of Standard BioTools in the 1st quarter valued at $862,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

Standard BioTools Company Profile

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.

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